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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (1418)	4/24/2002 1:07:41 PM
From: Jim Oravetz	Respond to of 1826

Duquesne Capital Has 6% Stake In MGI Pharma DOW JONES NEWSWIRES WASHINGTON -- Duquesne Capital Management LLC reported holding a 6% stake in MGI Pharma Inc. (MOGN), according to a Schedule 13G filed Wednesday with the Securities and Exchange Commission. On April 17, Duquesne Capital beneficially owned 1.5 million MGI Pharma common shares. Duquesne Capital is associated with Stanley Druckenmiller, the former chief investment officer of Soros Fund Management (X.SRS), associated with investor George Soros. A Schedule 13G denotes a passive investment stake in a company. Filers aren't required to provide a reason for changes in stake and aren't required to detail any transactions. On April 17, MGI Pharma said it expected a loss of $35 million for 2002, wider than previously expected. That day the company also announced it had stopped a Phase III clinical trial for a cancer drug because it didn't believe the drug would meet its planned objectives. MGI Pharma develops pharmaceutical products that address needs in the fields of cancer and rheumatology.